Rystad: With OPEC+ ready to unleash extra barrels, oil prices could fall into low $20s

Oil prices could fall into the low $20s for the global market to rebalance, as Rystad Energy expects an increase in global supplies in the next three months. OPEC+ countries are locked and loaded to add between 1.5 million and 2.5 million barrels per day (bpd), which Rystad estimates is their realistic short-term capability. Illustration. …

Oil price war could lead to massive wave of bankruptcies in oilfield services, Rystad says

The total capital and operational expenditure of exploration and production companies (E&Ps) is now likely to be cut by $100 billion in 2020 and another $150 billion in 2021 if oil prices remain at a $30 level, a Rystad Energy impact analysis revealed – a development that will heavily impact service company revenues, driving some …

DANGOTE REFINERY: NIGER DELTA TYPE MILITANCY LOADING AT LEKKI… A REPORTER’S PERSPECTIVE

By Chris Paul Otaigbe     The ongoing construction of the Dangote Refinery is proposed to relieve Nigeria of the perennial issue of Fuel scarcity and Fuel subsidy. It is, therefore, supposed to be a thing of joy to the country at large and the surrounding community of its proposed operations. The Nigerian economy has …

FUEL PRICE #NIGERIANS DESERVE DISCOUNT… NIGERIANS SHOULD PAY FAR LESS FOR FUEL

BY CHRIS PAUL OTAIGBE The issue of Fuel Subsidy and Fuel Pricing has been a recurring decimal on the national conversation of Nigeria. Many cannot understand why, with four Refineries, the Africa’s largest Oil Producer cannot refine its own Petroleum Products. To reduce the heat of the resulting tension and crisis in the polity, NNPC, …